Avnet Reports Fourth Quarter and Fiscal 2020 Financial Results

Historical Segment Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year 2020

 

 

 

 

 

 

Quarters Ended

 

 

 

 

 

Fourth Quarter

 

Third Quarter

 

Second Quarter

 

First Quarter

 

 

Fiscal Year

 

June 27,

 

March 28,

 

December 28,

 

September 28,

 

 

2020*

 

2020*

 

2020*

 

2019

 

 

2019

 

 

 

(in millions)

 

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

16,340.1

 

 

$

3,867.6

 

 

$

3,974.7

 

 

$

4,203.6

 

 

$

4,294.2

 

Farnell

 

 

1,294.2

 

 

 

292.1

 

 

 

335.1

 

 

 

331.2

 

 

 

335.8

 

Avnet

 

$

17,634.3

 

 

$

4,159.7

 

 

$

4,309.8

 

 

$

4,534.8

 

 

$

4,630.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

349.1

 

 

$

58.9

 

 

$

84.8

 

 

$

93.1

 

 

$

112.3

 

Farnell

 

 

75.5

 

 

 

10.4

 

 

 

23.4

 

 

 

20.0

 

 

 

21.8

 

 

 

 

424.6

 

 

 

69.3

 

 

 

108.2

 

 

 

113.1

 

 

 

134.1

 

Corporate expenses

 

 

(121.6

)

 

 

(26.3

)

 

 

(37.8

)

 

 

(30.9

)

 

 

(26.7

)

Restructuring, integration and other expenses

 

 

(81.9

)

 

 

(23.8

)

 

 

(19.2

)

 

 

(14.3

)

 

 

(24.6

)

Goodwill and intangible asset impairment expenses

 

 

(144.1

)

 

 

1.7

 

 

 

(145.8

)

 

 

-

 

 

 

-

 

Amortization of acquired intangible assets and other

 

 

(81.6

)

 

 

(19.0

)

 

 

(21.1

)

 

 

(21.4

)

 

 

(20.1

)

Avnet operating (loss) income

 

$

(4.6

)

 

$

1.9

 

 

$

(115.8

)

 

$

46.5

 

 

$

62.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales by geographic area:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

4,755.3

 

 

$

1,149.3

 

 

$

1,203.6

 

 

$

1,186.6

 

 

$

1,215.8

 

EMEA

 

 

5,753.4

 

 

 

1,344.2

 

 

 

1,512.5

 

 

 

1,425.8

 

 

 

1,470.9

 

Asia

 

 

7,125.6

 

 

 

1,666.2

 

 

 

1,593.7

 

 

 

1,922.4

 

 

 

1,943.3

 

Avnet

 

$

17,634.3

 

 

$

4,159.7

 

 

$

4,309.8

 

 

$

4,534.8

 

 

$

4,630.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year 2019

 

 

 

 

Quarters Ended

 

 

 

 

Fourth Quarter

 

Third Quarter

 

Second Quarter

 

First Quarter

 

 

Fiscal Year

 

June 29,

 

March 30,

 

December 29,

 

September 29,

 

 

2019*

 

2019

 

 

2019

 

 

2018

 

 

2018

 

 

 

(in millions)

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

18,060.3

 

 

$

4,337.5

 

 

$

4,331.3

 

 

$

4,680.7

 

 

$

4,710.8

 

Farnell

 

 

1,458.3

 

 

 

343.4

 

 

 

367.5

 

 

 

368.3

 

 

 

379.1

 

Avnet

 

$

19,518.6

 

 

$

4,680.9

 

 

$

4,698.8

 

 

$

5,049.0

 

 

$

5,089.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

614.9

 

 

$

141.1

 

 

$

153.3

 

 

$

158.6

 

 

$

161.9

 

Farnell

 

 

159.3

 

 

 

33.2

 

 

 

45.7

 

 

 

39.6

 

 

 

40.8

 

 

 

 

774.2

 

 

 

174.3

 

 

 

199.0

 

 

 

198.2

 

 

 

202.7

 

Corporate expenses

 

 

(78.5

)

 

 

(18.0

)

 

 

(20.9

)

 

 

(19.4

)

 

 

(20.2

)

Restructuring, integration and other expenses

 

 

(108.1

)

 

 

(28.2

)

 

 

(2.9

)

 

 

(62.3

)

 

 

(14.8

)

Goodwill and impairment expenses

 

 

(137.4

)

 

 

(137.4

)

 

 

-

 

 

 

-

 

 

 

-

 

Amortization of acquired intangible assets and other

 

 

(84.3

)

 

 

(20.7

)

 

 

(22.1

)

 

 

(20.5

)

 

 

(20.9

)

Avnet operating income (loss)

 

$

365.9

 

 

$

(30.0

)

 

$

153.1

 

 

$

96.0

 

 

$

146.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales by geographic area:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

5,135.8

 

 

$

1,266.3

 

 

$

1,297.2

 

 

$

1,300.4

 

 

$

1,271.8

 

EMEA

 

 

6,762.9

 

 

 

1,638.5

 

 

 

1,740.9

 

 

 

1,668.6

 

 

 

1,714.9

 

Asia

 

 

7,619.9

 

 

 

1,776.1

 

 

 

1,660.7

 

 

 

2,080.0

 

 

 

2,103.2

 

Avnet

 

$

19,518.6

 

 

$

4,680.9

 

 

$

4,698.8

 

 

$

5,049.0

 

 

$

5,089.9

 

______________________________

* May not foot/cross foot due to rounding


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